Post Office RD: If you do not want to take any risk on investment, then you can invest money in Post Office RD...

RD running in banks and post offices is like a piggy bank. You can invest a fixed amount in it every month. You do not get interest on depositing money in the piggy bank, you only get savings. But if you invest in RD, then on maturity this scheme returns the money along with interest. This scheme is very good for those people who invest by making small savings and do not want to take any kind of risk.

If you are also thinking of investing in RD, then you can invest money in Post Office RD. Investment is made in this scheme for 5 years. If you save 100 rupees every day and invest in it, then in 5 years ₹ 2,14,097 rupees will be added. You can use this amount anywhere as per your need.

This is how you can save ₹2,14,097

If you save 100 rupees every day, you can save 3,000 rupees in a month. This way you can invest 3,000 rupees every month in the post office RD scheme. At the rate of 3,000, you will deposit 36,000 rupees annually. This way you will invest a total of 1,80,000 rupees in 5 years. Currently, this scheme is giving 6.7% interest. According to this, in 5 years you will get 34,097 rupees as interest, and on maturity, you will get 2,14,097 rupees. This way you will save a good amount with small savings and you will not even know it. Let us tell you that according to the information available on the post office website, an RD account can be opened in the post office with just Rs 100, while there is no maximum limit for investment in it.

RD can also be extended.

If you want to take advantage of RD even after 5 years, then you can extend it for the next 5 years. The same interest will be available in the extended account which was applicable at the time of opening the account. The extended account can be closed anytime during the extension. In this, the interest rate of the RD account will be applicable for full years and interest will be given as per savings account for years less than one year. For example, if you close the extended account after 2 years and 6 months, then you will get interest at the rate of 6.7 percent for 2 years, while on the amount of 6 months, you will get interest at the rate of 4% as per post office savings account.

Rules for closing before maturity

If needed, you can close the Post Office RD even before 5 years. You get this facility after three years from the date of opening the account. But if you close the account even a day before the maturity period, then you are given interest equal to the post office savings account. Currently, 4% interest is being given on the post office savings account.

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